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The City of Steamboat has published the preliminary July 2012 Sales, Use, and Accommodation Tax Report. (See the Full Report.) City of Steamboat Springs’ July sales taxes are essentially flat with July 2011 collections. Year-to-date through July sales taxes is up by 1.99%. The City of Steamboat Springs budgeted for a 7.2% decrease for 2012. The largest percent increase was seen in the Lodging category which was up by 9.61%. Restaurants showed the larges decrease of 4% down from July 2011. Looking at the areas within the City, the Mountain area showed the largest increase with a 13.41% increase over July of 2011.
Accommodation Tax, which is currently used to fund Haymaker debt payments, saw an increase of 8.7% for July over 2011. Year-to-date accommodation tax collections are down by 0.41% from the same time frame in 2011.
The Local Marketing District Air Service Sales Tax with a rate of .25% collected $94,670 in July of 2012. This brings the total amount collected at the end of July to $600,679. This tax began January 1, 2012 and is held separately from the City of Steamboat Springs sales tax.
Building Use Tax is used to fund capital projects for the City of Steamboat Springs. This tax fluctuates depending on building permits issued, use tax audits completed, and the size and number of developments in the City. There was about $46,000 more in building use tax collected in July 2012 than there was in July of 2011. Year-to-date it is down by 46.21% or about $240,000. The City is currently on track to meet or exceed the 2012 budged revenue for building use tax.
For more information please contact Kim Weber, Finance Director 970-871-8250.